IRS Stops Sending Balance-Due Notices

The IRS announced Friday it had suspended sending certain balance-due notices to taxpayers while it continues to process its backlog of unopened mail, which may in some cases contain the sought payments. Also on Friday, the IRS said it was working to identify and correct erroneous penalties it applied to some employers who reduced their payroll tax deposits to claim COVID-19 relief-related credits.

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The Rise Of Cybercrime In The Accounting Profession Continues

Many accounting practices are reporting that IT vendors and employers rushed to provide access for remote employees without fully understanding how to properly implement and secure it. This has resulted in an increased number of cyberattacks on accounting practices of all sizes. With the increase in the remote workforce and the ongoing COVID pandemic, there has been a 300 percent increase in cyberattacks.

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Whitmer Announces Michigan Will Give An Extra $300 A Week In Unemployment

President Donald Trump this month signed an order extending the added weekly benefit after he and Congress were unable to agree to a broader new pandemic relief plan. States can choose a $300 or $400-a-week option, though they would have to chip in $100 toward the higher amount.

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News Finance

Tax Assistance Available for Individual & Businesses

Michigan Department of Treasury is reminding taxpayers affected by the Midland area flooding that state tax assistance is available to disaster survivors.

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Making The Most Of Health Savings Accounts During COVID-19

As COVID-19 sweeps across the globe, “we know now more than ever our health is at risk and that we may experience unexpected medical expenses,” says Juan Carlos Cruz, founder of Britewater Financial Group in Brooklyn, N.Y. What you may not know is that a health savings account (HSA) could help and that The CARES Act, recently passed by Congress, offers extra assistance for people using one.

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The CV/Resume Writing Workbook for Accounting Professionals

In a job market that’s highly competitive, having a compelling resume is crucial to career development, yet it is often neglected. A recently interviewed Director of a leading finance and accounting recruitment firm went on record as saying that 80% of the resumes they receive are either weak or need improvement.

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Top Issues for Not-for-Profits This Year

By the sheer look and sound of “2020,” we knew this would be a year to remember. But for most of us, the magnitude of 2020’s “memorability” has far exceeded our expectations—and the year is not over. As CPAs and finance professionals, we have an opportunity and responsibility to lead the organizations we serve through these trying times.

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What Trump’s Payroll-Tax Deferral Could Mean For You

Workers shouldn’t be waiting for a windfall in their upcoming paychecks, tax-policy experts said Monday as they digested news of President Donald Trump’s executive order deferring payroll taxes.

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Building Strong Teams In A Remote Work Environment

Over the past six years of my career, I got to build and support distributed teams across the globe. While it’s been an opportunity that I’ll forever be grateful for and I got to work with fantastic people, it’s also challenged me as a leader and manager.

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How To Close The Distance On Remote Work

You want to be a successful leader—especially in times when you may be remote or more distanced from your team. But how? The most important attributes to engender support from team members and enhance commitment are responsiveness and accessibility. When team members can get in touch with you, and when you get back to them in a timely way, it is a powerful path toward engagement, commitment and performance.

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